by French fries, also known as chips, are thin slices of potatoes that are deep fried or pan-fried. French fries are one of the most popular side dishes and snacks consumed worldwide. They provide consumers with a convenient snacking option that can be prepared and eaten quickly. Traditionally prepared by cutting potatoes into sticks and frying them in oil until crisp and golden brown. However, with advancement in food processing technologies, frozen and pre-packaged fries have become readily available in the market. The convenience of frozen fries has significantly boosted their consumption globally. Frozen fries can be prepared within minutes by simply baking or microwave cooking them. Their long shelf life enables year-round availability and contributes to high sales through retail channels. The global French fries market is estimated to be valued at US$ 16.77 Bn in 2023 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The increasing demand for convenient snacking solutions is a major driver propelling the growth of the French fries market. Busy lifestyles and lack of time have boosted the popularity of ready-to-eat snacks that can be consumed on-the-go. French fries perfectly meet this demand owing to their crisp texture and versatility. They are commonly sold by fast food chains, supermarkets, and convenience stores, making them highly accessible to consumers. Changing food consumption patterns are another key factor driving more people to snack between meals instead of traditional three heavy meals. Additionally, as mentioned in the heading, the flourishing demand for convenient snacking options is expected to boost the French fries market over the forecast period. The long shelf life of frozen fries allows easy stock piling and year-long availability, satisfying customers’ snacking needs.
Segment Analysis
The Global French Fries Market Size is dominated by the frozen fries segment. The frozen fries segment accounts for over 70% of the total market share owing to their longer shelf life and convenience of use. French fries can be served fresh, frozen or packaged. Among these, frozen fries have emerged as the most popular variant since they can be stored for a longer duration and consumed whenever needed without much preparation. This makes frozen fries a more cost-effective and convenient option for both commercial and household consumers.
PEST Analysis
Political: The French fries market is influenced by various food safety and international trade regulations. Any changes in import-export duties and tariffs can impact the availability and price of key ingredients like potatoes.
Economic: The market sees steady demand growth from the foodservice industry catering to quick-service restaurants, fast food chains, cafes and diners. Rising disposable incomes in developing nations is increasing per capita spend on snacking and convenience foods.
Social: French fries are a popular snack consumed across demographics and age-groups. The abundant availability of fast food brands and variety in frozen snacks has made French fries a widely accepted snack consumed both indoors and outdoors.
Technological: Advancements in deep frying and freezing technologies have improved the oil absorption levels and texture retention of frozen French fries. Automation in potato processing and frying lines has increased production outputs.
Key Takeaways
The global French fries market is expected to witness high growth.
North America currently holds the largest share of over 35% of the French fries market owing to high consumption levels in countries like the US and Canada. Europe is another major region accounting for over 30% share led by countries like Germany, UK and France where French fries are a staple part of meal occasions both indoors and out.
Key players operating in the French fries market are Johnson & Johnson, Pfizer, Sanofi, Merck & Co., Gilead Sciences, Amgen, Novartis, AbbVie, GlaxoSmithKline, AstraZeneca, Bristol-Myers Squibb, Eli Lilly, Teva Pharmaceutical, Bayer, Novo Nordisk, Allergan, Takeda Pharmaceutical, Boehringer Ingelheim, Aspen Pharmacare, Astellas Pharma. Consumers are increasingly opting for frozen fries produced by well-established brands owing to superior taste and quality consistency.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
